Teacher Retirement System of Texas lowered its stake in Marsh & McLennan Cos. (NYSE:MMC) by 9.0% during the third quarter, Holdings Channel reports. The fund owned 186,934 shares of the company’s stock after selling 18,548 shares during the period. Teacher Retirement System of Texas’ holdings in Marsh & McLennan Cos. were worth $12,571,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MMC. Creative Planning increased its stake in Marsh & McLennan Cos. by 2.7% in the second quarter. Creative Planning now owns 11,912 shares of the company’s stock valued at $816,000 after buying an additional 316 shares during the last quarter. Atria Investments LLC bought a new stake in Marsh & McLennan Cos. during the second quarter valued at approximately $254,000. Chevy Chase Trust Holdings Inc. increased its stake in Marsh & McLennan Cos. by 1.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 446,983 shares of the company’s stock valued at $30,600,000 after buying an additional 5,911 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in Marsh & McLennan Cos. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 134,921 shares of the company’s stock valued at $9,237,000 after buying an additional 8,015 shares during the last quarter. Finally, Thompson Rubinstein Investment Management Inc. OR increased its position in Marsh & McLennan Cos. by 6.8% in the second quarter. Thompson Rubinstein Investment Management Inc. OR now owns 7,327 shares of the company’s stock worth $502,000 after buying an additional 465 shares in the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

Institutional Ownership by Quarter for Marsh & McLennan Cos. (NYSE:MMC)

Marsh & McLennan Cos. (NYSE:MMC) traded up 0.36% on Tuesday, reaching $69.16. 752,789 shares of the company’s stock were exchanged. Marsh & McLennan Cos. has a 1-year low of $50.81 and a 1-year high of $69.77. The firm has a 50-day moving average price of $66.05 and a 200-day moving average price of $66.43. The company has a market capitalization of $35.66 billion, a P/E ratio of 21.27 and a beta of 0.85.

Marsh & McLennan Cos. (NYSE:MMC) last posted its earnings results on Tuesday, October 25th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Marsh & McLennan Cos. had a net margin of 12.95% and a return on equity of 25.27%. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts expect that Marsh & McLennan Cos. will post $3.37 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, October 11th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.97%. Marsh & McLennan Cos.’s payout ratio is currently 41.85%.

WARNING: “Teacher Retirement System of Texas Lowers Position in Marsh & McLennan Cos. (MMC)” was posted by Daily Political and is the propert of of Daily Political. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright & trademark law. The correct version of this article can be viewed at http://www.dailypolitical.com/2016/11/29/teacher-retirement-system-of-texas-lowers-position-in-marsh-mclennan-cos-mmc.html.

A number of research analysts recently issued reports on MMC shares. BMO Capital Markets upgraded shares of Marsh & McLennan Cos. from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $75.00 to $76.00 in a research report on Friday, November 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Marsh & McLennan Cos. from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. Credit Suisse Group AG set a $55.00 target price on shares of Marsh & McLennan Cos. and gave the company a “hold” rating in a research report on Monday, September 12th. Barclays PLC restated a “buy” rating and set a $77.00 target price on shares of Marsh & McLennan Cos. in a research report on Friday, September 30th. Finally, Citigroup Inc. decreased their target price on shares of Marsh & McLennan Cos. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $69.25.

In other news, Chairman Peter Zaffino sold 109,279 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $65.08, for a total transaction of $7,111,877.32. Following the transaction, the chairman now directly owns 203,352 shares of the company’s stock, valued at $13,234,148.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert J. Rapport sold 10,000 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $69.00, for a total transaction of $690,000.00. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.

Marsh & McLennan Cos. Company Profile

Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various specialty consultants, including Marsh, an insurance broker, intermediary and risk advisor; Guy Carpenter, a risk and reinsurance specialist; Mercer, a provider of human resource (HR) and related financial advice and services, and Oliver Wyman Group, a management, economic and brand consultancy.

5 Day Chart for NYSE:MMC

Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Cos. (NYSE:MMC).

Receive News & Ratings for Marsh & McLennan Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Cos. and related companies with MarketBeat.com's FREE daily email newsletter.